Canva restructures, cutting 22 per cent of jobs as it seeks to return to its start-up roots
Australian design software company Canva is restructuring, affecting 22% of its workforce or 1,271 jobs as it aims to refocus on its origins as a tech start-up.
The restructuring will include job cuts, role changes, and potential relocations for global staff.
Co-founder and CEO Melanie Perkins stated on Wednesday that it was a difficult decision necessary to prepare for the company’s future.
She acknowledged the significant impact on affected employees, expressing deep regret for the disruption caused.
Affected employees will receive severance packages including six months’ salary, extended healthcare for a year, career support with LinkedIn Premium access, and retention of their laptops.
Canva is establishing a fund to provide $US10,000 grants for departing staff to start their own businesses or initiatives.
Support measures
Founded in Sydney in 2013, Canva grew to 5,500 employees across 37 countries with 220 million active users monthly, as earlier reported by NINE.COM.AU.
It emerged as a leading example of a successful local start-up with global impact.
In August, Canva’s valuation was internally assessed at $43.9 billion, a decrease from over $10 billion the previous year.
Earlier this year, Canva launched its major AI product, Canva Create, but scaling was delayed due to high operational costs.
The company reported reducing AI product costs by 90%, allowing for broader rollout to over 200 million users.
